There is Life Beyond Legacy IT Through Genpact "Systems of Engagement"
Concrete client impact and adoption shows rapid value capture in transforming operations and rejuvenating ERP and other systems of record
NEW YORK, NY, November 20, 2014 – Genpact Limited (NYSE: G), a global leader in designing, transforming, and running intelligent business operations, has hit a new technology milestone with its Systems of Engagement (SOE) advanced technology solutions designed to maximize Return On Investment (ROI) from clients’ existing and legacy technology platforms. Genpact’s SOE solutions, now operational in more than one hundred Genpact clients, enable adaptability and cost flexibility and accelerate business transformation.
SOE’s new IT architecture combines advanced technologies including social, mobile, analytics, and cloud – collectively known as SMAC – to extend pre-existing client systems and operation processes. They leverage clients’ existing IT investments and nimbly bring their process operations to best-in-class. Genpact’s SOE solutions are unique because they are based on deep experience in running complex, business-critical operations for large enterprises globally, enabling a tight focus on what works and as a result reducing cost, risk, and length of implementation. Every SOE solution delivers the same anytime, anywhere, and any-device convenience to maximize productivity and accelerate time-to-value at a lower cost.
These technology capabilities are particularly timely as companies today are making significant changes in their business and operating models to mitigate risk, reduce costs, gather actionable intelligence, and be more flexible in order to stay competitive. Industry leaders correctly view technology as a critical driver for transformation but often discover that their legacy ERP investments – their “Systems of Record” (SOR) – are not designed to support today’s need for business flexibility, rapid data integration across multiple sources, and the interpretation of that data for smart and timely decision-making. Legacy SOR systems are hard to evolve and integrate with each other. As a consequence, despite the promise of new technologies, many enterprises' data-to-insight-to-action arc is constrained.
The journey of two clients illustrates the advancement of the art of the possible enabled by SOE, and their Account Receivable (AR) transformation is a good example of how operations can impact positive cash flow, reduce revenue leakage, and sustain client satisfaction.
“For Schneider Electric, Genpact implemented a global AR solution catering to the end-to-end process across company departments, enabling collaboration between groups and enhancing visibility into customers' behavior for more effective collections.
Nick Dadswell, finance transformation, Treasury and Cash Management for Schneider Electric states,"One of the biggest benefits we have now seen is how we are actually using information in the system (SOE) and how we can actually identify where there are upstream issues impacting downstream performance. We can publish reports that are going directly to the CFOs indicating which region, which country, which customer we need to focus on and that sort of visibility is something we have never had before... We have seen fantastic accounts receivable numbers and metrics all headed in the right direction.”
“Genpact has enabled us to implement the transformation of our credit operation, from a fragmented one into a strategic asset to our company,” said Joshua Nolan, Director of Credit Management, Oldcastle Precast. “By implementing the system, we have gained a more robust credit engine that helps drive dispute resolution, credit policy, monitors compliance, delivers a tool for document retention, and identifies potential credit risk opportunities through insightful Business Intelligence (BI) dashboards.”
Genpact’s SOE solutions are a thin, cloud based, flexible, and configurable layer complementary to a client’s existing legacy IT landscape. They address business needs around efficiency, effectiveness and governance and allow for rapid deployment and scalability without prohibitive upfront capital investments. Genpact configures and delivers SOE solutions to provide a focused and contextually relevant experience to end users. These solutions can be easily personalized to fit clients’ needs and adjusted as business requirements change. The pay-as-you-go model eliminates traditionally high up-front capital expenditures.
“Genpact’s SOE can amplify client operations’ economies of scale because they utilize people and assets more effectively, irrespective of what, who and where they are,” said Sanjay Srivastava, Senior Vice President and Business Leader, Enterprise Technology Services, Genpact. “SOE is like an express elevator that circumvents the 100 floors of technology stair-climbing to get to a flexible, nimble engagement layer that addresses changing needs. However, there are two critical components required to get it right: harnessing advanced technology, and real-world business process depth – and thanks to our history, focus, and critical mass, Genpact is able to bring these two together.”
Genpact (NYSE: G) stands for “generating business impact.” We design, transform, and run intelligent business operations including those that are complex and specific to a set of chosen industries. The result is advanced operating models that foster growth and manage cost, risk, and compliance across a range of functions such as finance and procurement, financial services account servicing, claims management, regulatory affairs, and industrial asset optimization. Our Smart Enterprise Processes (SEPSM) proprietary framework integrates effective technology and data-driven insight into the fabric of enterprise processes to help our clients be more competitive. Our hundreds of long-term clients include more than one-fourth of the Fortune Global 500. We have rapidly grown to over 67,000 people in 25 countries with key management and corporate offices in New York City, but our global critical mass doesn’t dilute our flexible and collaborative approach and our management team still drives client partnerships personally. Our clients attribute much of our success to our unique history – behind our passion for process and operational excellence is the Lean and Six Sigma heritage of a former General Electric division that has served GE businesses for more than 16 years. Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.
# # #
For more information:
Gail Marold (For Genpact Media Relations)
Matthew Kirdahy (For Genpact U.S.)
Quintin Keanie (For Genpact Europe)
+44 (0)207 309 1053